Automated synchronous product pricing and advertising system

ABSTRACT

An automated product pricing system including a physical store system, a virtual store system, and a control system. The physical and virtual store systems are capable of transmitting sales data indicative of the number of sales of identified respective products. The control system is adapted to receive the sales data from the physical store system and the virtual store system. In response thereto, the control system generates price change data including a changed price of an identified product based on the sales data received from at least one of the physical and virtual store systems. The price change data is then transmitted by the control system to at least one of the physical and virtual store systems to thereby change the price of the identified product.

CROSS REFERENCE TO RELATED APPLICATIONS

Not applicable.

STATEMENT REGARDING FEDERALLY SPONSORED RESEARCH OR DEVELOPMENT

Not applicable.

BACKGROUND OF THE INVENTION

A number of methods are currently in use for the pricing and advertisingof products. For example, manual placard displays are provided atlocations where the product is shelved at the store to permit consumersto determine the price of the product. The placard displays must bemanually changed each time that the prices in the checkout computers arechanged so that there is no discrepancy between the prices contained inthe checkout computer and the prices shown on the manual placarddisplays. However, due to accumulated errors, there can be a fairlylarge discrepancy between the prices contained in the checkout computerand the prices shown on the manual placard displays. This discrepancy isof increasing concern to governmental regulators.

Electronic pricing systems are also in existence. In the existingelectronic pricing systems, each product carries a bar code. Anelectronic price display which displays the price of the product at alocation where the product is shelved at the stores is provided. Thestore also has a checkout computer and scanner. In such existingelectronic pricing systems, an individual with a hand held unit changesthe product price at the display located where the product is shelved.The changed prices are entered into the hand held unit and the personpositions the hand held unit near the electronic display and presses abutton so that the information is transferred to the electronic displayto display the new price.

There are also a number of systems available which interconnect localstore computers to the checkout stations, as well as interconnectinglocal store computers to the owner computers. Companies, such asIntactix of Dallas, Tex., are suppliers of such software and thehardware is well-known to those skilled in the art. Methods also existfor connecting a local store computer to an owner computer. However,most of the current product pricing display change methods are manual aspreviously discussed. These methods are time consuming, and requirecostly generation and replacement of the pricing placards at the productstations.

A number of electronic display technologies are available today, such asliquid crystal displays, light emitting diode displays, flat panel videodisplays, audio convertors, etc. which may be utilized as productdisplays at the product station. For example, companies such as PRICERAB of Sweden and others are installing active product price units whichcan be controlled from the local store computer.

Since the internet explosion in 1995-96, a number of virtual storechains, such as Tom Thumb and Kroger have created virtual stores on theinternet for home shopping and deliveries. Price synchronization for thevirtual stores pose different problems from the physical stores.

With regard to advertising, a number of methods are currently in use forplacing coupons in the hands of consumers. Three of such methods are:

1. Coupons are placed in the advertising section of periodicals ormailed directly to the consumer's house for later use in stores.

2. Books of coupons and coupon dispensing units are made availableinside stores for later use during checkout.

3. Coupons are generated at the checkout station at the conclusion ofthe checkout process for later use by the consumer.

Once the consumer has presented a coupon to a checkout clerk, thecoupons are either entered manually or scanned by automated scanners forcheckout. The coupons must then be saved by the checkout clerk for laterredemption at redemption centers so that the retail establishment canrecover its cost from the product manufacturers which the store has, ineffect, advanced to the consumer. The coupons must then be sorted byproduct and tabulated as to overall cost for various management reasons.

The current process for utilizing coupons typically proceeds as follows.The consumer hands a coupon to the checkout clerk. The product code onthe coupon is scanned and the amount of the discount is looked up in thestore computer. If the coupon and the discount amount have been bothentered into the store computer, this amount is deducted from the normalproduct retail price. However, if the coupon has not been entered intothe store computer, the discount amount must be manually entered.

Then, the coupon is set aside and saved for later sorting by anotherclerk. The amounts and product codes are accumulated and the coupons arelater sent to a redemption center where they are again manually checkedbefore a check or credit is issued to the retail store.

The current coupon handling methods are very time consuming.

With the present invention, the pricing of products is accomplished moreefficiently than existing systems, and the manual handling of coupons atcheckout locations is eliminated.

BRIEF DESCRIPTION OF THE SEVERAL VIEWS OF THE DRAWING

FIG. 1 is a schematic, diagrammatic view of an automated synchronousproduct pricing and advertising system constructed in accordance withthe present invention.

FIG. 2 is a schematic, diagrammatic view of a physical store systemconstructed in accordance with the present invention.

FIG. 3 is a schematic, diagrammatic view of a product pricing unitutilized in the physical store system depicted in FIG. 2.

FIG. 4 is a schematic, diagrammatic view of a product checkout stationutilized in the physical store system depicted in FIG. 2.

FIG. 5 is a schematic, diagrammatic view of a store product advertisingmedia unit constructed in accordance with the present invention.

FIG. 6 is a schematic, diagrammatic view of an owner control systemconstructed in accordance with the present invention.

FIG. 7 is an elevational view of a display screen of a virtual storesystem constructed in accordance with the present invention.

DETAILED DESCRIPTION OF THE INVENTION

Referring now to the drawings, and more particularly to FIG. 1, showntherein is an automated synchronous product pricing and advertisingsystem 10 constructed in accordance with the present invention. Broadly,the automated synchronous product pricing and advertising system 10includes an owner control system 12, a plurality of physical storesystems 14, a plurality of product supplier systems 16, at least onevirtual store system 18 and a competition pricing information system 20.Only two of the physical store systems 14, and product supplier systems16 are shown in FIG. 1 for purposes of clarity. The respective physicalstore systems are designated in FIG. 1 by the general reference numerals14a and 14b. The respective product supplier systems are designated inFIG. 1 by the general reference numerals 16a and 16b.

The owner control system 12 is adapted to communicate with the physicalstore systems 14a and 14b via respective signal paths 24a and 24b. Theowner control system 12 also communicates with the product suppliersystems 16a and 16b via respective signal paths 26a and 26b, the virtualstore system 18 via a signal path 28 and the competition pricinginformation system 20 via a signal path 30.

It is envisioned that the physical store systems 14 be located inestablishments having product locations, such as shelves, boxes, slots,areas, or the like for storage and/or sale of products. For example, theestablishments in which the physical store systems 14 are located can beretail supermarkets, drug stores, home building supply stores, inventorystocking areas or assembly sites at manufacturing or distributionfacilities.

It is envisioned that the product supplier systems 16 be located atestablishments which serve to supply products to the stores where thephysical store systems 14 are located or to a warehouse for distributionafter an order is received by the virtual store system 18.

The competition pricing information system 20 can include a program forobtaining information from an internet search engine, such as YAHOO orEXCITE which look for the prices at which predetermined competitors areselling the same or similar products.

Signal paths 24, 26, 28 and 30 can be airway and/or cable communicationlinks or any other suitable communication link.

The owner control system 12 is constructed to receive sales andinventory data from the physical store systems 14, and the virtual storesystem 18. The owner control system 12 is also constructed to receivepricing and advertising data from the product supplier systems 16 viathe signal paths 26a and 26b, and competition price data from thecompetition pricing information system 20 via the signal path 30. Aswill be described in more detail hereinbelow, the owner control system12 utilizes the sales and inventory data provided by the physical storesystems 14, and the virtual store system 18, the pricing and advertisingdata provided by the product supplier systems 16, and the competitionprice data provided by the competition pricing information system 20 toautomatically change product prices at the physical store systems 14 andthe virtual store system 18, to automatically provide in-storeadvertising data within the physical store systems 14 and/or the virtualstore system 18, and to automatically order products from the productsuppliers associated with the product supplier systems 16.

Referring now to FIG. 2, shown therein in more detail is the physicalstore system 14a. Because the physical store systems 14a and 14b aresubstantially identical in construction and function, only the physicalstore system 14a will be described in detail herein.

The physical store system 14a, in general, is constructed to display aproduct location price indicating the unit price of a product on atleast one of a plurality of product pricing units 40, to request from ashopper a product checkout price for the purchase of the product by atleast one of a plurality of store checkout stations 42, to selectivelyprint coupons, transmit video and/or audio advertising messagesincluding the product checkout price on a store product advertisingmedia unit 44, and to dynamically change the displayed product locationprices, the requested product checkout prices, the coupons and theadvertising messages in real time based on predetermined criteriathereby substantially eliminating consumer confusion and yielding themaximum economic benefit for the physical store by a store productcontrol system 46.

The individual products (not shown) in the store are stamped with amachine readable code, such as the UPC (universal product code) barcode. Each of the product pricing units 40 are located proximate to oneof the individual products and has a unique electronic addressidentifying the particular product. The unique electronic address can bethe universal product code.

The store product control system 46 includes a store system computer 50.The store system computer 50 has stored thereon the unique electronicaddresses for the respective product pricing units 40. A productlocation price associated with each of the unique electronic addressesis stored in the store system computer 50. The product location price isindicative of the unit price of a single product.

The store system computer 50 is constructed to transmit the uniqueelectronic addresses and the product location prices associatedtherewith ("electronic address and product location price data") to atransmitter unit 52 via a signal path 54. In response to receiving theelectronic address and product location price data from the store systemcomputer 50, the transmitter unit 52 transmits such electronic addressand product location price data to the respective product pricing units40a and 40b via signal paths 56a and 56b. The signal paths 56a and 56bcan be hard wiring (copper wiring, fiber optics, coaxial cable, or thelike), RF wireless (microwave, low frequency, satellite, or the like)and/or optical (laser, infrared, or the like).

Referring now to FIG. 2, in combination with FIG. 3, the electronicaddress and product location price data is received by a product decoderunit 58 included in each of the product pricing units 40. It should beunderstood that each of the product pricing units 40a and 40b aresubstantially identical in construction and function, and that only theproduct pricing unit 40a is shown in FIG. 3 for purposes of clarity. Theproduct decoder unit 58 can be a 2.4 GHz spread spectrum RF receiverunit. The product decoder unit 58 has an electronic address storedtherein. Upon receipt of the electronic address and product locationprice data from the store product control system 46, the product decoderunit 58 compares the received electronic address with that stored in theproduct decoder unit 58. When a match is found, the product locationprice data associated with the electronic address is sent to a productprice display unit 60 via a signal path 62.

Upon receipt of the product location price data from the product decoderunit 58, the product price display unit 60 transmits and/or displays theproduct location price indicative of the unit price of a productdisposed adjacent the particular product pricing unit 40 in a formatperceivable by a shopper when the shopper is selecting the product forpurchase. The product price display unit 60 can be a liquid crystaldisplay, or a LED display, for example. The product location pricetransmitted or displayed by the product price display unit 60 remainsuntil a new product location price for the particular product locatedadjacent the product pricing unit 40 is received by the product decoderunit 58. In practice, it is contemplated that to overcome inadvertentmistakes, all the electronic address and product location price datawill be transmitted periodically from the store product control system46 to the product pricing units 40 even though there may have not beenany price changes.

In addition, it should be noted that the store product control system 46has the ability to transmit, and the product pricing units 40 have theability to receive a special code which changes both the electronicaddress for the particular product pricing units 40 and/or a priceassociated with the new electronic address. In this manner, theparticular product pricing units 40 become universal.

The store checkout stations 42a and 42b are substantially identical inconstruction and function. For purposes of clarity, only the storecheckout station 42a will be described in detail herein.

Referring now to FIG. 2 in combination with FIG. 4, the store checkoutstation 42a is shown in more detail. The store checkout station 42aincludes a checkout computer unit 66. The checkout computer unit 66 hasstored therein a product price table which includes a unique code foreach of the products available for sale in the store, and a productcheckout price associated with the unique code. The unique code for eachof the products available for sale in the store can be the UPC(universal product code) code. The product checkout price stored in thecheckout computer unit 66 and associated with a single unique code isthe price requested from a shopper for the purchase of the product.

The store checkout station 42a is also provided with a product scannerunit 68, an ATM unit 70, a product price display unit 72 and an SPCSinterface unit 74. In use, the store system computer 50 outputs productcheckout price data to a communication unit 76 via a signal path 78. Thecommunication unit 76 outputs the received product checkout pricing datato the store checkout stations 42a and 42b via signal paths 80a and 80b.

As best shown in FIG. 4, the SPCS interface unit 74 receives thetransmitted product checkout price data from the communication unit 76.In response thereto, the SPCS interface unit 74 transmits the receivedproduct checkout price data to the checkout computer unit 66 via asignal path 82. In response to receiving the product checkout pricedata, the checkout computer unit 66 is constructed to build or updatethe product price table stored in the checkout computer unit 66.

In use, the shopper selects at least one product for purchase andperceives the product location price displayed by the product pricedisplay unit 60 of the product pricing unit 40a, for example. Theshopper transports the products to the store checkout station 42a, forexample. The UPC code on the product is scanned by the product scannerunit 68 and is thereby input into the checkout computer unit 66 via asignal path 84. The checkout computer unit 66 looks up the productcheckout price stored in the product price table by the UPC or uniquecode identifying the particular product. The checkout computer unit 66then outputs the product checkout price for the particular product tothe product price display unit 72 via a signal path 86 so that theproduct checkout price for the particular product is perceivable by theshopper. The product checkout price stored in the product price tabledoes not exceed the respective product location price perceivable by theshopper when the shopper was selecting the product for purchase, as willbe explained in more detail hereinafter. In any event, once the productwhich the shopper is purchasing is scanned via the product scanner unit68, the product checkout price is requested from the shopper forpayment. The shopper can pay for the product in any suitable manner,such as by entering their credit card number into the checkout computerunit 66 via an input 88. The shopper's credit card number is thentransmitted to a credit card source company for automated payment creditverification via the ATM unit 70 and signal paths 90 and 92.

The UPC or unique code identifying each product purchased is batched inthe checkout computer unit 66 until the shopper's transaction iscomplete. At that time, the UPC or unique code data is transmitted tothe store system computer 50 via the signal paths 78, 80a, and 82 sothat the store system computer 50 can keep track of the store'sinventory.

STORE PRODUCT ADVERTISING MEDIA UNIT 44

The store system computer 50 selectively outputs product advertisingdata including the unique codes identifying selected products within thestore, and a product advertising price indicating an advertised price ofthe product associated with the unique code to a first modem unit 96 viaa signal path 98. The first modem unit 96 receives the productadvertising data, and in response thereto the first modem unit 96outputs such product advertising data to the store product advertisingmedia unit 44 via a signal path 100.

It should be noted that the product advertising data can either begenerated by the store system computer 50, and/or can be received by thestore system computer 50 from the owner control system 12 via the signalpath 24a, a second modem unit 102, and a signal path 104. The storesystem computer 50 and/or the owner control system 12 are programmed sothat upon the detection of an increased supply or decreased demand for aproduct or products, the product advertising data is automaticallygenerated and transmitted to the store product advertising media unit 44to increased the demand for a selected product or products.

Referring now to FIG. 2 in combination with FIG. 5, the store productadvertising media unit 44 is shown in more detail. The productadvertising data transmitted from the first modem unit 96 is received byan advertising computer 110. The advertising computer 110 is loaded withsoftware to cause the advertising computer 110 to selectivelycommunicate with a store print advertising unit 112 via a signal path114, a store video advertising unit 116 via a signal path 118, and astore audio advertising unit 120 via a signal path 122 to selectivelymake coupons available for printing, to transmit video messages andaudio messages identifying products and product advertising pricesindicative of the price to be charged for such products. Only one storeprint advertising unit 112, store video advertising unit 116 and storeaudio advertising unit 120 are shown in FIG. 5 for purposes of clarity.It should be understood that the store product advertising media unit 44can include a plurality of store print advertising units 112, storevideo advertising units 116 and store audio advertising units 120. Thestore print advertising units 112, store video advertising units 116 andstore audio advertising units 120 can be located proximate to respectiveindividual products to provide the product advertising data (throughcoupons, video and/or audio messages) independently for each individualproduct, or can be located in a centralized location or locations withinthe store to provide product advertising data for more than one productat each store print advertising unit 112, store video advertising unit116 and store audio advertising unit 120.

The store print advertising unit 112 may include an associated videoscreen and keypad (not shown) to permit shoppers to browse and selectcoupons to print. Upon demand, the store print advertising unit 112prints a set of coupons (or at least one coupon) with each couponidentifying a predetermined price reduction for an identified product orservice and also includes other information such as store location,appropriate graphics, colors, and/or a product bar code for checkout andexpiration date.

The coupons generated by the store print advertising unit 112 are givenby the shopper to a checkout clerk associated with one of the storecheckout stations 42 when the shopper is ready to pay prior to leavingthe store. The coupons are scanned by the product scanner unit 68 at thestore checkout stations 42 to provide coupon data. The store checkoutstations 42 transmit the coupon data received from the coupon, such asthe identified product to the store system computer 50 via the signalpaths 78 and 80. The store system computer 50 looks up the discountassociated with the product bar code and transmits this discount to theparticular one of the store checkout stations 42 from which the couponwas scanned for inclusion on the shopper's printed receipt.

If the coupon presented to the checkout clerk was not printed by thestore print advertising unit 112, and product bar code identifying thecoupon is not in storage, the store system computer 50 sends a messageto the store checkout station 42 where the particular coupon was scannedand the clerk at the particular store checkout station 42 then manuallyenters the product number and discount. The store system computer 50also checks to make sure that the product identified on the coupon hasbeen scanned via the product scanner unit 68 before authorizing thecheckout computer unit 66 at the store checkout stations 42 to deductthe discount amount from the requested product checkout price.

The coupon data, including the product code information, received fromthe store checkout stations 42 from the scanning of coupons is stored inthe store system computer 50. Periodically, the store system computer 50accumulates all of the coupon data which has been entered into the storesystem computer 50 and then sorts such coupon data by manufacturer,tabulates the discount amount by manufacturer and then sends all of thesorted and totalled coupon data to a printer 124 to generate a physicalcopy of the coupons and the sorted and accumulated total, if required bya redemption center. Because the coupon data is sorted, accumulated andprinted, the physical coupons which were scanned by the product scannerunit 68 of the store checkout stations 42 can be discarded at therespective store checkout stations 42.

STORE SYSTEM COMPUTER 50

As mentioned previously, the store system computer 50 receives uniquecode data identifying purchased products from the store checkoutstations 42 via the signal paths 78 and 80. In response thereto, thestore system computer 50 can change the prices in the store based onpredetermined price change algorithms. The predetermined price changealgorithms utilized to change the store prices can be either managerselectable or selectable via the owner control system 12.

One of the price change algorithms which the store system computer 50has stored thereon is a program to detect the rate of purchase for eachproduct and compare such rate with a predetermined limit. If the rate ofpurchase of the product exceeds the predetermined limit, the price ofthe product is increased automatically by a predetermined amount. If therate of purchase of the product is below the predetermined limit, theprice of the product is decreased automatically by a predeterminedamount to stimulate demand.

Another price change algorithm which is stored on the store systemcomputer 50 is a program to detect the amount of product remaining ininventory, or on the shelf. If the amount of product left on the shelffalls below a predetermined limit, then the store system computer 50outputs a special signal such as a flashing screen or a printout on aspecial printer to notify the managers that the number of products onthe shelf needs to be increased. Alternatively, or in addition, thestore system computer 50 can automatically increase by a predeterminedamount the price of the product based on the reduced supply of producton the shelf or in inventory.

The store system computer 50 can also have other predetermined pricechange algorithms thereon such as price change algorithms toautomatically change prices to match competitor pricing specials, toreflect purchasing specials and/or to achieve end of the month salesprojections.

When a product price change is made or received by the store systemcomputer 50, it is important that the price change be implemented in amanner such that the product checkout price requested from the shopperfor the purchase of the product at one of the store checkout stations 42not exceed the product location price displayed by the product pricingunit 40 located proximate to the product so as to reduce consumerirritation with price discrepancies. As will be described hereinafter,the store system computer 50 is programmed to selectively change theproduct checkout price and product location price in three modes.

In the first mode, as shown in FIG. 2 the physical store systems 14include a store time-stamp unit 126. Each of the physical store systems14 can be provided with a single store time-stamp unit 126 provided nearthe entrance of the store, for example, and/or a plurality of storetime-stamp units 126 provided adjacent respective product pricing units40. The store time-stamp unit 126 communicates with the store systemcomputer 50 via a signal path 128.

Each of the shoppers can be provided with some type of time-stampablemedia capable of communicating with the store time-stamp unit 126, suchas a smart card, or a barcoded ticket. The store time-stamp unit 126records, on the time-stampable media, a time stamp data indicative ofthe time at which the shopper was located adjacent the store time-stampunit 126 to give an indication of the time at which the shopperperceived the product location price when the shopper was selecting theproduct for purchase.

When the store time-stamp unit 126 is provided adjacent the entrance ofthe store, each of the shoppers provides their time-stampable media tothe store time-stamp unit 126 to record the time at which the shopperentered the store. When a plurality of store time-stamp units 126 areprovided adjacent to the respective product pricing units 40, theshopper provides their time-stampable media to the store time-stamp unit126 to record the approximate time at which the shopper selected theproduct for purchase.

For example, one embodiment of the present invention operates asfollows. The store system computer 50 outputs a first product locationprice indicative of the unit price of a product to the product pricingunits 40 via the signal paths 54 and 56. The product pricing units 40receive the first product location price and display the first productlocation price on the product price display unit 60 such that the firstproduct location price is perceivable by a first shopper when the firstshopper is selecting the product for purchase. The store system computer50, utilizing at least one of the price change algorithms, automaticallychanges the first product location price to a second product locationprice following the first shopper selecting the product for purchase andpossibly while the first shopper is still in the store shopping. Thesecond product location price is then transmitted to the product pricingunits 40 via the signal paths 54 and 56 to be displayed on the productprice display unit 60. The second product location price is differentthan the first product location price and is perceivable by a secondshopper when the second shopper is selecting the product for purchase.The first shopper then proceeds to one of the store checkout stations 42to pay for the product which the first shopper has selected. The firstshopper provides the time-stamp media to the checkout clerk who entersthe time information stored on the timestamp media into the checkoutcomputer unit 66. The UPC code on the product is scanned by the productscanner unit 68 and is thereby input into the checkout computer unit 66.The checkout computer unit 66 then transmits the product identificationdata (UPC code) and the time-stamp data to the store system computer 50via the signal paths 78 and 80. The store system computer 50 receivesthe time-stamp data and the product identification data and determineswhether the price of the product reflected in the product identificationdata was changed after the time reflected in the time-stamp data. If theproduct location price has been changed after the time identified in thetime-stamp data, the store system computer 50 transmits a signal to thecheckout computer unit 66 via the signal paths 78 and 80 to request fromthe first shopper a first product checkout price not exceeding the firstproduct location price perceivable by the shopper when the shopper wasselecting the product for purchase.

That is, if the price of the product was increased after the firstshopper entered the store or selected the product for purchase(depending on whether the store time-stamp unit 126 was located at thestore's entrance or adjacent to one of the product pricing units 40) andhad his time-stamp media time-stamped by the store time-stamp unit 126,the first product checkout price will reflect the price of the productbefore the product location price was increased. However, if the priceof the product has been decreased after the first shopper had histime-stamp media time stamped by the store time-stamp unit 126, thefirst product checkout price will be the decreased price.

In the same manner, the physical store system 14 requests from thesecond shopper a second product checkout price for the purchase of theproduct, with the second product checkout price not exceeding the secondproduct location price perceivable by the second shopper when the secondshopper was selecting the product for purchase.

In the second and third modes of operation, the store time-stamp unit126 is not utilized to assure that the product checkout price of aproduct does not exceed the product location price of the product aftera change in the price of the product has been made.

In the second mode of operation, the product checkout price requestedfrom the shopper at one of the store checkout stations 42 for thepurchase of a product is changed by the store system computer 50 apredetermined time later than the product location price displayed bythe product pricing unit 40 located proximate to the product is changedby the store system computer 50. By changing the product checkout pricea predetermined time, such as one hour, later than the product locationprice, this substantially increases the probability that shoppers willnot be charged a price at one of the store checkout stations 42 which isgreater than the product location price displayed by the respectiveproduct pricing unit 40 when the shopper selected the product forpurchase.

In a third mode of the present invention, the product location price andthe product checkout price are changed simultaneously by the storesystem computer 50 when the price of the product is decreased, and theproduct checkout price is changed a predetermined time later than theproduct location price by the store system computer 50 when the price ofthe product is increased.

When a product checkout price of a product is decreased, the decreasedprice can be transmitted to the store product advertising media unit 44(as discussed above) to notify shoppers of the price reduction via audioor video. Thus, the store system computer 50 automatically changes boththe product checkout price and the product advertised pricesimultaneously.

OWNER CONTROL SYSTEM 12

Referring now to FIG. 1 in combination with FIG. 6, the owner controlsystem 12 is shown in more detail. The owner control system 12 includesan owner control system computer 132 and a modem 134. The owner controlsystem computer 132 communicates with the modem 134 via a signal path136. The owner control system computer 132 can be a Packard BellPlatinum 2010, for example. The owner control system computer 132 canconnect automatically to each of the physical store systems 14 via thesignal paths 24a and 24b, the product supplier systems 16a and 16b viathe signal paths 26a and 26b, the competition pricing information system20 via the signal path 30, and the virtual store system 18 via thesignal path 28.

It should be noted that the logic executed by the owner control systemcomputer 132 can be incorporated into the store system computer 50 ifdesired, and/or if the owner only has one physical store. If the logicexecuted by the owner control system computer 132 is incorporated intothe store system computer 50, the owner control system computer 132 canbe eliminated.

The owner control system computer 132 includes a plurality ofpredetermined price change algorithms to send price change codes,including changed prices, and/or price change criteria or instructions,to the physical store systems 14 or the virtual store system 18 based onthe competition price data received from the competition pricinginformation system 20, the pricing and advertising information receivedfrom the product supplier systems 16a and 16b, the sales and inventorydata received from the physical store systems 14 and/or the virtualstore system 18, and combinations thereof.

In other words, the owner control system computer 132 is adapted totransmit the price change codes to the physical store systems 14a and14b and/or the virtual store system 18 to: (1) change the prices at thephysical store systems 14a and 14b, and/or the virtual store system 18;and/or (2) select one or more of the price change algorithms stored onthe physical store systems 14a and 14b and/or the virtual store system18 to be used thereby in changing the product location and productcheckout prices. Different price change codes can be transmittedindependently to each of the physical store systems 14, and/or thevirtual store system 18 so that the price changes at the physical storesystems 14 and/or the virtual store system 18 can be individualized tomeet the local supply and/or demand, for example.

For example, the pricing and advertising data received from the productsupplier system 16a by the owner control system 12 may indicate that aparticular product is in short supply. Such pricing and advertising datais then analyzed by at least one of the algorithms stored in the ownercontrol system 12 and a determination may be made to raise the price ofthe particular product. The owner control system 12 then outputs a pricechange code to the physical store systems 14 and/or virtual store system18 to raise the price of the particular product.

As another example, the competition price data received from thecompetition pricing information system 20 by the owner control system 12may indicate that a competitor's price on a first product is lower thanthe price of the first product in the physical store systems 14 and/orthe virtual store system 18. Such competition price data is thenanalyzed by at least one of the algorithms stored in the owner controlsystem 12 and a determination may be made to lower the price of theparticular product. The owner control system 12 then outputs a pricechange code to the physical store systems 14 and/or the virtual storesystem 18 to lower the price of the particular product. The price changecode lowering the price of the particular product can also includeinstructions to cause the store system computer 50, for example, tooutput product advertising data to the store product advertising mediaunit 44 to provide advertising messages, such as coupons, video messagesand/or audio messages to accompany the lowering of the price of theproduct and to thereby notify shoppers of the lowering of the price ofthe product.

The owner control system 12 receives sales and inventory data from thephysical store systems 14 and/or the virtual store system 18. The salesand inventory data is indicative of product purchases, rate of productpurchases and the remaining inventory at the physical store systems 14and/or the virtual store system 18. Based on the sales and inventorydata, the owner control system 12 is programmed to automatically outputorder data to order products from the product suppliers associated withthe product supplier systems 16. The order data can be individualizedfor each of the physical store systems 14 and/or the virtual storesystem 18 so that the ordered products are shipped from the suppliers tothe correct locations.

VIRTUAL STORE SYSTEM 18

Referring now to FIG. 7, shown therein is a display screen 140illustrating the virtual store system 18 as perceived by a shopper. Itshould be noted that the virtual store system 18 and the physical storesystems 14 operate identically except as set forth hereinafter. Thedisplay screen 140 of the virtual store system 18 is perceivable by theshopper as the shopper is browsing the internet, for example. Displayedon the display screen 140 is at least one product 142, and a productpricing unit 144 displaying the product location price of the particularproduct 142. Also displayed on the display screen 140 is a store productadvertising media unit 146 which operates identically as the storeproduct advertising media unit 44, hereinbefore described with referenceto FIG. 2. Various buttons, such as a browse button 148 and an orderbutton 150 are also included on the display screen 140.

In use, the shopper logs on to the virtual store system 18 and thevirtual store system 18 stores a time-stamp indicative of the time thatthe shopper logged on. The shopper then selects the browse button 148 tobrowse between different products 142. As the shopper browses throughthe different screens of products 142, the product location price isdisplayed on the product pricing unit 144, and any advertising specialsrelated to the particular displayed product 142 or other products aretransmitted via video and/or audio transmissions by the store productadvertising media unit 146 to be perceived by the shopper. As theshopper is browsing through the different screens of products 142, thevirtual store system 18 can store a time-stamp indicative of when theshopper first perceived the screen for each individual product 142 whichwas browsed.

The virtual store system 18 utilizes either the time-stamp recorded whenthe shopper logs on, or the time-stamp recorded when the shopper viewsthe screens of the individual products 142 to set a product order pricebased on the time-stamp in the same manner as the product checkout priceis determined by the physical store systems 14, as hereinbeforedescribed with reference to FIG. 2. Once the shopper decides to orderone of the products 142, the shopper presses the order button 150 andthe product location price displayed on the product pricing unit 144 islocked in as the product order price.

Thus, it can be seen that the automated synchronous product pricing andadvertising system 10 operates to more efficiently control the prices,and inventory of one or more physical, and or virtual store locations.Government regulations that prices on shelves (product location prices)do not exceed product checkout/order prices are satisfied, and consumerirritation with such price discrepancies is vastly reduced. Labor costsand error costs of manual placard generation and replacement at theproduct locations are eliminated. Automated management of text, audioand video at the product stations to achieve improvement in mediamarketing can be implemented and store wide advertising can become apractical matter. In addition, dynamic advertising is possible (e.g. twofor one sale or price discount until 5:00 p.m.). The store specials canbe accompanied with audio, video and printed materials such as couponsvia the store product advertising media unit 44. In addition, dynamicpricing is possible. As discussed before some of the real timeeconomically viable possibilities are:

1. Price increases or decreases depending on station inventory and onpredetermined rate of purchase criteria;

2. Price changes to match competitors pricing specials; and

3. Price decreases to reflect purchasing specials, and headquarterspecials to achieve end of the month sales projections.

The store product advertising media unit 44, and the automatic changingof prices via the owner control system 12, and/or the store systemcomputer 50 can be implemented at a lower cost as compared to the manualgeneration of placard displays. The problems associated with timeconsuming checkout of coupons, and the redeeming of coupons is greatlysimplified by the printing, sorting and accumulating of such coupons bythe store system computer 50.

Changes may be made in the construction and the operation of the variouscomponents, elements and assemblies described herein and changes may bemade in the steps or the sequence of steps of the methods describedherein, without departing from the spirit and scope of the invention asdefined in the following claims.

What is claimed is:
 1. An automated product pricing system,comprising:product pricing unit means for displaying a first productlocation price indicative of the unit price of a product such that thefirst product location price is perceivable by a first shopper when thefirst shopper is selecting the product for purchase; means forelectronically changing the first product location price to a secondproduct location price following the first shopper selecting the productfor purchase, the second product location price being different than thefirst product location price, the second product location price beingperceivable by a second shopper when the second shopper is selecting theproduct for purchase; and means for requesting from the first shopper afirst product checkout/order price for the purchase of the product andfrom the second shopper a second product checkout/order price for thepurchase of the product, the first and second product checkout/orderprices not exceeding the respective first and second product locationprices perceivable by the first and second shoppers when the first andsecond shoppers were selecting the product for purchase.
 2. An automatedproduct pricing system as recited in claim 1, further comprising meansfor changing the first product checkout/order price to the secondproduct checkout/order price a predetermined time later than when thefirst product location price is changed to the second product locationprice.
 3. An automated product pricing system as recited in claim 2,further comprising:a store product advertising media unit constructed toselectively output at least one advertising message in a formatperceivable by the second shopper, the advertising message identifyingthe product and including a product advertised price which is identicalto the second product checkout/order price.
 4. An automated productpricing system, wherein the second mentioned means includes means forstoring the first product checkout/order price and also includes a meansfor changing the first product checkout/order price to the secondproduct checkout/order price, and wherein the store product advertisingmedia unit outputs the advertising message about simultaneously with thechanging of the first product checkout/order price to the second productcheckout/order price when the second product checkout/order price isless than the first product checkout/order price.
 5. An automatedproduct pricing system as defined in claim 1, wherein the means forelectronically changing the first product location price to a secondproduct location price includes:means for receiving data selected fromthe group consisting of competition price data, pricing and advertisinginformation, sales and inventory data, and combinations thereof and forchanging the first product location price to the second product locationprice based on the received data.
 6. An automated product pricing systemas recited in claim 1, further comprising:time stamp means for recordinga time stamp data indicative of the time at which the first and secondproduct location prices were likely perceivable by the first and secondrespective shoppers to determine the first product checkout/order pricerequested from the first shopper and the second product checkout/orderprice requested from the second shopper.
 7. An automated product pricingsystem as defined in claim 3, wherein the time stamp means records thetime at which the first and second shoppers entered the store.
 8. Anautomated product pricing system, comprising:a physical store systemcapable of transmitting sales data indicative of the number of sales ofidentified respective products; a virtual store system capable oftransmitting sales data indicative of the number of sales of identifiedrespective products; a control system including:means for receiving thesales data from the physical store system and the virtual store system;means for generating price change data including a changed price of anidentified product based on the sales data received from at least one ofthe physical and virtual store systems; and means for transmitting theprice change data to at least one of the physical and virtual storesystems to thereby change the price of the identified product.
 9. Anautomated product pricing system as defined in claim 8, wherein thephysical store system comprises:a product pricing unit constructed todisplay a product location price indicating the unit price of a product;a store checkout station constructed to request from a shopper a productcheckout price for the purchase of the product; a store system computerconstructed to communicate with the product pricing unit and the storecheckout station so as to automatically change the product locationprice and the product checkout price.
 10. An automated product pricingsystem as recited in claim 9, wherein the store system computer of thephysical store system further comprises means for changing a firstproduct checkout price to a second product checkout price apredetermined time later than when a first product location price ischanged to a second product location price.
 11. An automated productpricing system as recited in claim 9, wherein the physical store systemfurther comprises:a store product advertising media unit constructed toselectively output at least one advertising message in a formatperceivable by the shopper, the advertising message identifying theproduct and including a product advertised price which is identical tothe second product checkout price.
 12. An automated product pricingsystem as defined in claim 11, wherein the store product advertisingmedia unit outputs the advertising message about simultaneously with thechanging of the first product checkout price to the second productcheckout price when the second product checkout price is less than thefirst product checkout price.
 13. An automated product pricing system asdefined in claim 9, wherein the store system computer comprises:meansfor receiving data selected from the group consisting of competitionprice data, pricing and advertising information, sales and inventorydata, and combinations thereof and for changing a first product locationprice to a second product location price based on the received data. 14.An automated product pricing system as defined in claim 8, furthercomprising time stamp means for recording the time at which a shopperentered the physical store, or the shopper viewed a product.
 15. Anautomated product pricing system as defined in claim 8, where in thevirtual store system further comprises:a display screen adapted topermit the shopper to browse through different screens of products; andmeans for recording a time-stamp indicative of when the shopper firstperceived the screen for each individual product which was browsed. 16.An automated product pricing system, comprising:a physical store systemcapable of transmitting sales and inventory data indicative of thenumber of sales and remaining inventory of an identified product; avirtual store system capable of transmitting sales data indicative ofthe number of sales and remaining inventory of the identified respectiveproduct; a product supplier system capable of transmitting dataindicative of the supply of the identified product; and a control systemincluding:means for receiving the sales and inventory data from at leastone of the physical store system and the virtual store system, and thedata from the product supplier system; means for generating price dataincluding a changed price of an identified product based on the salesand inventory data received from the at least one of the physical andvirtual store systems, and the data from the product supplier system;means for transmitting the price data to at least one of the physicaland virtual store systems to thereby change the price of the identifiedproduct; and means for outputting an order signal based on the sales andinventory data so as to automatically order at least one product.
 17. Anautomated product pricing system as defined in claim 16, wherein thephysical store system comprises:a product pricing unit constructed todisplay a product location price indicating the unit price of a product;a store checkout station constructed to request from a shopper a productcheckout price for the purchase of the product; a store system computerconstructed to communicate with the product pricing unit and the storecheckout station so as to automatically change the product locationprice and the product checkout price.
 18. An automated product pricingsystem as recited in claim 17, wherein the store system computer of thephysical store system further comprises means for changing a firstproduct checkout price to a second product checkout price apredetermined time later than when a first product location price ischanged to a second product location price.
 19. An automated productpricing system as recited in claim 17, wherein the physical store systemfurther comprises:a store product advertising media unit constructed toselectively output at least one advertising message in a formatperceivable by the shopper, the advertising message identifying theproduct and including a product advertised price which is identical tothe second product checkout price.
 20. An automated product pricingsystem as defined in claim 19, wherein the store product advertisingmedia unit outputs the advertising message about simultaneously with thechanging of the first product checkout price to the second productcheckout price when the second product checkout price is less than thefirst product checkout price.
 21. An automated product pricing system asdefined in claim 17, wherein the store system computer comprises:meansfor receiving data selected from the group consisting of competitionprice data, pricing and advertising information, sales and inventorydata, and combinations thereof and for changing a first product locationprice to a second product location price based on the received data. 22.An automated product pricing system as defined in claim 16, furthercomprising time stamp means for recording the time at which a shopperentered the physical store, or the shopper viewed a product.
 23. Anautomated product pricing system as defined in claim 16, wherein thevirtual store system further comprises:a display screen adapted topermit the shopper to browse through different screens of products; andmeans for recording a time-stamp indicative of when the shopper switchedto the screen of a product.
 24. An automated product pricing system,comprising:a plurality of physical store systems, each of the physicalstore systems comprising:a product pricing unit constructed to display aproduct location price indicating the unit price of a product; a storecheckout station constructed to request from a shopper a productcheckout price for the purchase of the product; a store system computerconstructed to communicate with the product pricing unit and the storecheckout station so as to automatically change the product locationprice and the product checkout price; a control system computer adaptedto selectively communicate price change codes indicate of differentprices for the same product to the store system computer of each of thephysical store systems whereby the price changes at the physical storesystems for the product are capable of being individualized at eachphysical store system.
 25. An automated product pricing system asrecited in claim 24, wherein the store system computer of the physicalstore system further comprises means for changing a first productcheckout price to a second product checkout price a predetermined timelater than when a first product location price is changed to a secondproduct location price.
 26. An automated product pricing system asrecited in claim 25, wherein the physical store system furthercomprises:a store product advertising media unit constructed toselectively output at least one advertising message in a formatperceivable by the shopper, the advertising message identifying theproduct and including a product advertised price which is identical tothe second product checkout price.
 27. An automated product pricingsystem as defined in claim 26, wherein the store product advertisingmedia unit outputs the advertising message about simultaneously with thechanging of the first product checkout price to the second productcheckout price when the second product checkout price is less than thefirst product checkout price.
 28. An automated product pricing system asdefined in claim 24, wherein the control system computer comprises:meansfor receiving data selected from the group consisting of competitionprice data, pricing and advertising information, sales and inventorydata, and combinations thereof and for changing a first product locationprice to a second product location price based on the received data. 29.An automated product pricing system as defined in claim 24, furthercomprising time stamp means for recording the time at which a shopperentered the physical store, or the shopper viewed a product.
 30. Anautomated product pricing system as defined in claim 24, furthercomprising:a virtual store system including:display means for displayingat least one product, and for displaying a product location price of theparticular product; a store system computer constructed to communicatewith the display means for automatically changing the product locationprice; and wherein the control system computer is adapted to selectivelycommunicate price change codes indicative of different prices for thesame product to the store system computer of some of the physical storesystems and the virtual store system whereby the price changes at thephysical store systems and virtual store system for the product arecapable of being individualized at each physical store system and thevirtual store system.
 31. An automated product pricing system,comprising:a plurality of store systems, each of the store systemscomprising:a store product advertising media unit constructed toselectively output at least one advertising message in a formatperceivable by a shopper, the advertising message identifying a productand including at least one of a price and a price discount for thepurchase of the product; and a control system computer adapted toselectively communicate advertising price change codes indicative ofdifferent advertised prices for the same product to the store productadvertising media unit of respective store systems whereby theadvertising message at the store systems for the product are capable ofbeing individualized at each store system.
 32. An automated productpricing system as defined in claim 31, wherein the store productadvertising media unit further comprises:means for selecting couponsfrom a plurality of predetermined coupons; means for printing theselected coupons.
 33. An automated product pricing system as defined inclaim 31, further comprising:a store checkout station adapted to receivecoupon data from physical coupons and to transmit the coupon data; astore system computer adapted to receive the coupon data and to printcoupons from the coupon data whereby the physical coupons at the storecheckout station can be discarded.
 34. An automated product pricingsystem as defined in claim 32, wherein the store product advertisingmedia unit includes:means for transmitting audio advertising messages.35. An automated product pricing system as defined in claim 32, whereinthe store product advertising media unit includes:means for transmittingvideo advertising messages.
 36. An automated product pricing system,comprising:a plurality of store systems, each of the store systemscomprising:a product pricing unit constructed to display a productlocation price indicating the unit price of a first product; means forrequesting from a shopper a product checkout/order price for thepurchase of the first product; a store system computer constructed tocommunicate with the product pricing unit and the means for requestingso as to automatically change the product location price and the productcheckout/order price; a competition pricing information system adaptedto output competition pricing data indicative of the price at which atleast one predetermined competitor requests from a shopper for thepurchase of the first product; a control system computer adapted toreceive the competition pricing data from the competition pricinginformation system and to automatically output a price change code tothe store system computer.